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by Daniel Leussink TOKYO, Japan (AFP) — Mitsubishi Motors shares nosedived again Thursday as panic selling wiped about $2.5 billion off the automaker’s market value in response to its shock admission that it cheated on fuel-efficiency tests. The embarrassing revelation is the latest in a string of recent scandals to hit Japanese firms, while German giant Volkswagen struggles to restore its badly dented reputation after a massive emissions scandal. The news has also raised questions about […]
Japanese automaker Nissan is looking to the giant robots of the ‘Gundam’ anime series for its new car designs. Ryan Brooks reports on how this might set them apart from a market filled with look-alike designs.
TOKYO,Japan (AFP) — Japanese transport ministry officials raided a Mitsubishi Motors office Thursday following the shock admission by the automaker that it falsified fuel-efficiency tests in more than 600,000 vehicles. The officials descended on a research and development centre in the city of Nagoya Thursday morning, and the government may slap the under-fire company with fines over the scandal, local media said. “This has critically damaged consumers’ trust and it won’t be tolerated,” top government […]
Reuters — Treasury Secretary Jack Lew called it “an exciting moment” after it was announced on Wednesday (April 20) that anti-slavery crusader Harriet Tubman will become the first African-American on the face of U.S. paper currency. She will also be the first woman in more than a century to hold the honor when she replaces former President Andrew Jackson on the $20 bill. “I hope Americans take a step back and appreciate that we listened […]
By Caesar Vallejos Eagle News Service online correspondent (Eagle News) – Business leaders feel that the country’s economic growth will continue even after the May 2016 elections, no matter who the next president would be. “Even if we elect Vice Ganda for President on May 9, 6-7 percent economic growth will continue. So don’t be too anxious about the elections,” said distinguished Philippine economist, Dr. Bernardo Villegas, in a gathering of CEOs to launch the […]
TOKYO, Japan (AFP) — Panama has been “wrongly” labelled a tax haven, President Juan Carlos Varela said in an interview with a Japanese news agency, defending his country amid the global “Panama Papers” scandal. Panama is scrambling to avert redesignation as a tax haven that assists money laundering after the disclosure of the offshore dealings of many of the world’s wealthy, famous and infamous. They came to light when millions of documents covering nearly 40 […]
SINGAPORE (AFP) — Oil prices resumed their fall in Asia Wednesday after petroleum workers called off a strike in key OPEC producer Kuwait, quashing hopes the disruption could help ease a persistent supply glut. Curtailed production resulting from the three-day strike in OPEC’s fourth biggest member led prices to rise Tuesday, ending a four-day losing streak. But prices resumed their decline after the Kuwait Oil Workers Union on Wednesday ended their mass action and decided […]
ADDIS ABABA,Ethiopia(AFP) — Ethiopia, Africa’s second most populous country and one of its fastest growing economies, is pushing a new electronic payment service by phone — called M-Birr, or “mobile-money” — in a bid to bring millions into the banking system and financial services
by Glenn CHAPMAN SAN Francisco, United States (AFP) — Yahoo reported a quarterly loss on Tuesday as the struggling Internet pioneer continued to court potential buyers and examine other strategic options. Yahoo chief executive Marissa Mayer said the company has “made substantial progress toward potential strategic alternatives” while working to trim costs and drive growth. The company reported a net loss of $99 million in the first quarter, compared with a $21 million profit a […]
QUEZON City, Philippines – Transport groups threatened to ask for a fare hike if the Department of Energy is not able to stop the rise of oil prices in the local markets. The DOE said that it can only guarantee that there will be no abuse on the part of the oil companies due to the deregulation of oil prices in the country. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Jericho […]
QUEZON City, Philippines – According to the Climate Change Commission, the government should review its energy policy in order to avoid dependence on coal-fired power plants and in the development of clean energy sources. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Jericho Morales, Uploaded by MRFaith Bonalos) https://youtu.be/4XI0h2tusMM
(Reuters) Oil prices tumbled on Monday after a meeting by major producers in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel. Geopolitical tensions between Saudi Arabia and Iran were blamed for the failure, which revived industry fears that major government-controlled producers will increase their battle for market share by offering ever-steeper discounts. “OPEC’s credibility to coordinate output is […]
